This program doesn't use a server, so if you refresh the page, all your data will be lost!
You can save your data on your computer by copying contents of the box below, pasting it into
a text file, and saving. You can then use the "load" feature to re-load it when you come back.
Compare Scenarios
Alternatively, you can save the current scenario for comparison purposes, and build another. If you do this,
the data is saved in your browser. Again, if you refresh the page, your data will be lost!
Give this scenario a name:
Load saved data
Because this program doesn't use a server, you need to have previously saved your data on your own computer, and you can load that data here.
Please note: No error checking is done. If you try to load data that was not saved with this tool, unpredictable results may occur!
Feedback
I'd love your feedback! Report bugs, offer suggestions, whatever...
I used to have a feedback form here, but it was removed with my site re-design in 2019. Please just e-mail me at chris "at" tophermiller.com.
Enter only the facts that are new as of this date. Leave unchanged items blank.
At any point in time, you may set or reset your current net worth,
or the rate at which you expect it to grow. Do not include equity
in your home unless you plan to sell it before retirement.
You must have at least one non-zero entry for net worth in your milestone list.
Net Worth: $
Annual growth rate (ROI): %
A one-time event is a lump sum addition or subtraction from your
net worth, such as an inheritance (addition) or home purchase (subtraction).
Lump sum: $
enter minus sign for negative amount
Your monthly savings is how much you are putting away each month. You can also enter a rate
at which you intend to increase your monthly savings. This is not your ROI for savings, but
rather the rate at which you intend to increase your contributions.
These monthly savings will be assumed to stop as of the first retirement date in your household.
Monthly savings: $
Annual rate of increase: %
These are your predictions for cost of living during retirement. These should be in "today's dollars"
as of the milestone date, and will be adjusted for inflation to reflect actual costs in retirement.
Notes:
A fixed mortgage, if any, does not suffer from inflation. Enter your fixed mortgage payment and
the date it will be paid off.
If you retire before you are eligible for Medicare, you may be on self-pay health insurance for a time.
You should estimate that cost here (per person), and a rate of inflation for it. Health insurance costs tend to suffer
from higher than normal inflation rates ()here's a reference'). This amount will be used for household members
who are retired before age 65.
After age 65, your health insruance costs are assumed to come from Medicare,
so enter those cost estimates here as well. Here's some help.
Lastly, enter an estimate of all other living expenses excluding mortgage and health insurance.
Income taxes are a complicated beast, and this program makes a wild assumption in order to estimate them.
Namely, we assume your taxable income equals your spending, as if your expenses were all paid out of a draw
from your 401K and taxed at the time of withdraw. Mortgage and health care expenses are
not included as they are assumed to be tax deductible (another gross estimation).
Then, we use
these federal tax tables
and these state tables to estimate your taxes.Not perfect, but hopefully close.
Monthly Amount
Fixed Mortgage payment:
$
Payoff Date:
Monthly Amount
Annual Inflation Rate
Self-pay health insurance cost (per individual):
$
%
Medicare cost (per individual):
$
%
All other spending (per household):
$
%
Estimated income taxes you'll pay:
These are your predictions for income during retirement. These are in "today's dollars"
as of the milestone date, and will adjusted for inflation using the rates you specify.
Notes:
Social Security income depends on the age you start taking benefits. The SSA sends you a statement every year
with this information, or you can get with one of these
online calculators.
The results provided are in today's dollars, so enter them "as is" here if today is your milestone date.
The inflation rate would be the SSA's annual cost of living adjustment rate
found here.
"Other Income" is anything else you anticipate, for example rental property income, pension checks, etc.
It starts at the first person's retirement date or the milestone date, whichever is later.